NEW YORK--(BUSINESS WIRE)--Aperture Investors, a disruptive asset manager focused on identifying portfolio managers who can consistently beat their benchmarks and incentivizing them to do so, has released full year 2020 results for its funds. All of those which were live on Jan. 1, 2020 and therefore had full-year track records, outperformed their respective benchmarks.
The Aperture Discover Equity (’40 Act), Endeavour Equity (’40 Act, UCITS), European Innovation (UCITS), New World Opportunities (’40 Act, UCITS) and Credit Opportunities (UCITS) funds outperformed by 39.03 percent, 15.29 percent, 12.66 percent, 14.45 percent, 3.45 percent, 3.37 percent and 3.75 percent respectively net of fees in 2020 (representing total returns for the year of 58.99 percent, 30.24 percent, 27.61 percent, 11.13 percent, 7.98 percent, 7.90 percent and 6.11 percent - net of fees). The applicable links provide the standard performance of the US-registered ’40 Act funds.
In ‘40 Act vehicles, Aperture’s Discover Equity Fund was 1st percentile in Morningstar’s Small-Blend category, Aperture’s New World Opportunities Fund was 8th percentile in Morningstar’s Emerging Markets Bond Category, and Aperture’s Endeavour Equity Fund was 17th percentile in Morningstar’s World Large Stock Category.
In UCITS, Aperture’s New World Opportunities Fund was 14th percentile in Morningstar’s EAA Fund Global Emerging Markets Bond Category, Aperture’s Credit Opportunities Fund was 25th percentile in Morningstar’s EAA Alt-Long/Short Credit Category, Aperture’s Endeavour Equity Fund was 4th percentile in Morningstar’s EAA Fund Global Large-Cap Blend Equity Category, and Aperture’s European Innovation Fund was 5th percentile in Morningstar’s EAA Fund Europe Large-Cap Blend Equity Category.
“These results are atypical, to say the least,” said Peter Kraus, Chairman and CEO, Aperture Investors. “But Aperture’s founding mission is to solve the misalignment between asset managers and clients, which often leads managers to prioritize asset growth over performance. We’ve hired managers who believe that they can consistently outperform. And we link both our fees and our manager compensation to that outperformance. As such we think we’ve defined success in the same way as our clients - superior returns - not bigger funds. We’re paying managers to make consistent and thoughtful investment decisions rather than to be asset-gatherers, and we think our 2020 results speak for themselves.”
Aperture launched its first strategy just two years ago on January 2, 2019 and in the following 24 months has launched an additional six. Together, these strategies now manage over $3B in assets. Aperture believes that its performance through 2020’s historic volatility is a testament to its managers and the model within which they operate.
About Aperture Investors
Aperture is reestablishing trust in the asset management industry by aligning client interests with its own. Its mission is outperformance. Aperture strategies charge low fees comparable with passive ETFs in the same category, when performance is at or below stated benchmarks. When and only when returns are generated in excess of a strategy’s benchmark, Aperture charges a performance-linked fee. Aperture investment teams are also compensated primarily on outperformance rather than assets under management. Led by industry veteran Peter Kraus in partnership with Generali, one of the world’s largest insurers, Aperture’s mission is embedded in its fee and compensation structures, as well as in the ways it openly engages with the investing community online. To learn more about Aperture, its managers, and its innovative structure, visit us at www.apertureinvestors.com.
 Benchmarks for the funds mentioned are the Russell 2000 Total Return Index, MSCI ACWI hedged to USD Net Total Return Index, MSCI Europe Net Total Return EUR Index, Bloomberg Barclays EM USD Aggregate 1-5 Year Total Return Index and SOFR +2 percent respectively.
 Outperformance is defined as the difference between the return of the Fund and the return of the Fund’s stated benchmark. The fee and benchmark will be adjusted to reflect the impact of share class hedging and distribution fees, where applicable.
Total number of funds in each Morningstar category in 2020: Small Blend (671), Emerging Markets Bond (274), World Large Stock (867).
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The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Returns for periods of less than one year are cumulative. Assumes reinvestment of dividends and capital gains. Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.
This release is for information purposes only and does not provide any professional investment, legal, accounting nor tax advice. All information and opinions contained in this note represent the judgment of Aperture Investors, LLC (“Aperture”) at the time of publication and are subject to change without notice. For more information about costs, risks and conditions in relation to an investment or a service, please always read the relevant legal documents. This note may not be reproduced (in whole or in part), transmitted, modified, or used for any public or commercial purpose without the prior written permission of Aperture. Recipients of this information are deemed to be investment professionals and/or qualified investors that have employed appropriately qualified individuals to manage their financial assets and/or are appropriately informed and experienced as to understand the associated risks of investment. To the extent that any opinions or forecasts are provided, they are as of the dates indicated, are subject to change without notice and may not be revised, may not be accurate and do not represent a recommendation or offer of any investment. Although all reasonable care and attention has been given to the data provided, no liability is accepted for any omissions or errors. Data contained herein should not be relied upon as the basis for any investment decision.
The Aperture Discover Equity Fund, Aperture New World Opportunities Fund and Aperture Endeavour Equity Fund (collectively, “the ’40 Act Funds) are distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with Aperture Investors LLC or Generali. These funds generally do not accept investments by non-U.S. persons. This letter is for information purposes only and does not constitute a recommendation or an offer of services or products in your country. It is not intended for any person outside the jurisdictions in which the Issuers have been authorized.
Risk Information: Investing involves risk, including possible loss of principal. There is no guarantee the Funds will achieve their investment objectives. International investments may involve risk or capital loss from unfavorable fluctuation in currency values, differences in generally accepted accounting principles or from social, economic or political instability in other nations. Emerging markets involve heightened risks related to these factors as well as increased volatility and lower trading volume. Bonds and bond funds will decrease in value as interest rates rise. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. Investments in smaller companies typically exhibit higher volatility. With short sales, you risk paying more for a security than you received from its sale. Short sale losses are potentially unlimited and the expenses involved with the shorting strategy may negatively impact the performance of the Fund. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses. The Endeavour Equity and Discover Equity Funds are non-diversified as defined in the Investment Company Act of 1940.
To determine if the ’40 Act Funds are an appropriate investment for you, carefully consider the fund investment objectives, risk, and charges and expenses. This and other information can be found in the fund (full and summary) prospectus which can be obtained by calling 888-514-7557 or by visiting www.apertureinvestors.com. Please read the prospectus carefully before investing.
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